Its The Principal Of The Thing

Its The Principal Of The Thing

Most people think they’ll have a house payment and a car payment for the rest of their lives but it doesn’t have to be with a plan and a little discipline. The plan is to make additional principal contributions to a fixed rate mortgage to shorten the term and save tens of thousands in interest.

If a person does make a decision to regularly pre-pay their mortgage, it will be their responsibility to verify that the lender is applying the money to the principal each time as opposed to being placed in the reserve account for taxes and insurance.

In today’s market, a savings account pays around 0.5% or less. Even with the low mortgage rates available, there is still a considerable savings. People who might need the funds in the near future should carefully consider this option due to the difficulty to access equity easily from one’s home.

About eXp Realty Connecticut

Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.

Testimonials

"We saw a house we were interested in and I clicked on "have agent contact you". It wasn't even 30 seconds later and my phone rang!! Kris Morin is friendly, honest and very easy to work with! I can't express how happy we are with our purchase and how quick and easy the process was! Kris is extremely responsive - whether it's an email, phone message, or text! We enjoyed working with her very much and plan on keeping in touch for future endeavors!!"